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What does "turnover time" indicate in the context of property management?

The period taken for property inspections

The time required to prepare a unit for new tenants

Turnover time in property management specifically refers to the duration required to prepare a unit for new tenants after the previous tenants have moved out. This process includes various activities such as cleaning, making necessary repairs, and conducting maintenance to ensure the unit is in top condition for incoming residents. Efficient management of turnover time is crucial as it directly impacts overall occupancy rates and revenue generation for the property.

Understanding turnover time helps property managers streamline operations, develop timelines for unit readiness, and ultimately minimize the vacancy periods, which can lead to increased profitability for the property owner. Properly managing this time aspect is essential for maintaining a competitive edge in the rental market.

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The duration between leasing agreements

The average time tenants stay before moving out

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